Author: News Room

The Bitcoin blockchain continued leading the non-fungible tokens (NFTs) market on Tuesday despite sales volume dropping by 44.36%, as of 2:30 p.m. ET. Bitcoin recorded US$12.2 million in NFT sales while the network’s native cryptocurrency dropped to as low as US$62,349, according to CryptoSlam. About US$5 million of those sales came from Uncategorized Ordinals, a category of digital assets on the Bitcoin network that is not part of a collection. NodeMonkes, a collection of 10,000 NFTs on Bitcoin, was the market’s highest-selling collection with US$2.5 million. Ethereum and Solana extended Monday’s trend by trailing the Bitcoin network in NFT sales,…

Decentralized Finance (DeFi) has grown significantly in the past few years according to total value locked (TVL) and exchanged volume. As of recently, the volume in DeFi has consistently surged to above $10 billion daily, similar to 2021’s bull market. In particular, volume is a solid metric for identifying trends and investors’ interest in the cryptocurrency market or specific sectors. However, volume can spike in atypical days without consistency, which creates false technical indicators. Looking at consistent behavior is crucial when evaluating trends and the market’s momentum. On that note, Finbold retrieved data from DefiLlama on March 17, which shows…

1inch Welcomes Lumia to its Liquidity Ecosystem Multichain liquidity aggregator 1inch has expanded its liquidity network by integrating Lumia, a move aimed at enriching on-chain liquidity and optimizing pricing for users. The integration, announced on March 18, marks a significant step forward for 1inch in broadening its liquidity offerings. Lumia: A Gateway to Centralized Exchange Liquidity Lumia’s integration with 1inch brings centralized exchange liquidity from platforms like Binance, OKX, and KuCoin to the decentralized realm. This extension of liquidity bridges the gap between centralized and decentralized finance, promising users access to competitive pricing on DeFi platforms. Empowering DeFi Users with…

Velar, a DeFi liquidity protocol built on Bitcoin, announced today the mainnet launch of Dharma, its new Automated Market Maker (AMM) inspired by Uniswap V2. Dharma is designed to broaden the DeFi functionalities available on Bitcoin, potentially unlocking the network’s trillion-dollar potential. LIFTOFF! 🚀 Velar’s AMM is now live with STX<>aeUSDC & STX<>aBTC trading pairs, unlocking decentralized trading on Bitcoin! This changes EVERYTHING! Join the revolution as we reshape #DeFi, making trading seamless & accessible! The future is here with #Velar Dharma! 🟧 pic.twitter.com/KYoh8Y9i8n — Velar (@VelarBTC) March 19, 2024 The new launch followed last year’s successful tesnet launch, attracting…

Merit, Aave’s latest alignment reward program, has gone live today and will be airdropping 280 wETH to wETH borrowers. GHO borrowers and stakers can also be expected to earn rewards from an airdrop next week. According to a press release reviewed by Blockworks, $2.1 million in wETH and $2.9 million in GHO will be spent over an initial 90-day period, and an extension proposal will be presented to the Aave DAO in April. Merit is designed to reward actions that benefit the Aave DAO, a twist in the competitive landscape of the DeFi space. Specifically, it uses a booster-based reward…

More than $5.4 million worth of collateral has been liquidated across defi platforms in the past 24 hours. Ethereum took the most brutal hit, accounting for $4.2 million of the total liquidations. According to data from Parsec, a further threat of destabilization if ETH drops to $3,008 could trigger an additional $24 million in liquidations. On-chain derivatives exchanges such as GMX, Kwenta, and Polynomial have been at the center of these liquidations, which cumulatively triggered over $52 million in the past day alone. When collaterals are liquidated in the context of defi, it means that assets pledged as security for…

The price of Bitcoin (BTC) has fallen after rising to the $74,000 mark. New analysis of the BTC price by Coinidol.com. Bitcoin price long-term forecast: bearish The cryptocurrency traded and reached a high of $73,794 before being beaten back. The rise ended when the price of the cryptocurrency fell below the 21-day SMA. Currently, the Bitcoin price is trading between the moving average lines. The value of Bitcoin is currently at $62,261 at the time of writing this article. According to the price indicator, Bitcoin is expected to fall even further. The BTC price has fallen below the 21-day SMA…

Top market analyst Ali Martinez has revealed the quantity of Bitcoin (BTC) to buy at each price level in his newly unveiled Dollar Cost Averaging (DCA) strategy. With the price of Bitcoin yet to find defined support amid the ongoing correction, some investors seek ways to leverage the price discount. However, some market experts advocate the dollar cost-averaging approach for those looking to augment their holdings. This system involves buying Bitcoin with a smaller yet fixed dollar regularly, at different price levels. With DCA, traders “apply value investing principles to regular investment.” The Martinez Strategy As outlined by the Ali…

Although Bitcoin has been in a downward trend lately, there is no decrease in interest in BTC. Because Bitcoin purchases have peaked in Argentina, one of the countries with very high inflation. According to Bloomberg, Bitcoin purchases in Argentina increased by 100% last week, as inflation reached 276%. Citizens of the country buy Bitcoin instead of exchanging it for dollars in order to maintain the value of the peso, the fia currency, which is melting in the face of high inflation. At this point, Bitcoin purchases in Argentina, one of the countries that have adopted Bitcoin at the highest level…

As Argentina’s inflation climbs, Bitcoin gains popularity over fiat currencies, driving increased crypto purchases and scam activity. In Argentina, where inflation has surged to staggering levels, Bitcoin is emerging as a preferred hedge against economic instability, Bloomberg reports, citing data compiled by a local crypto exchange Lemon Cash. Lemon Cash’s data reveals a significant uptick in Bitcoin transactions, nearing their highest weekly value in 20 months. The surge appears to coincide with President Javier Milei’s implementation of shock therapy policies aimed at revitalizing the economy, prompting Argentines to seek alternative means of financial security. You might also like: Argentine president…